Eric Swanson

The Federal Reserve raised interest rates by a quarter percentage point Wednesday ….But officials have indicated that those rate hikes are nearing an end. … “The banking failures did definitely play a role. About two weeks ago, Fed Chair Powell was talking about possibly raising the federal funds rate by half of a percentage point. And then the banking crisis in the last week or 10 days basically completely took that off the table. People were debating whether the Fed might even pause at this meeting,” said Dr. Eric Swanson, a professor of economics at the University of California, Irvine. “Instead, they decided to sort of continue and just raise rates by a quarter of a point.”

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